UP Fintech (NASDAQ:TIGR) Stock Price Up 6.4% – Time to Buy?

UP Fintech Holding Limited (NASDAQ:TIGR)’s stock price was up 6.4% during mid-day trading on Thursday . The company traded as high as $6.84 and last traded at $6.95. Approximately 2,475,779 shares traded hands during trading, a decline of 33% from the average daily volume of 3,701,228 shares. The stock had previously closed at $6.53.

Wall Street Analysts Forecast Growth

TIGR has been the subject of several research analyst reports. Citigroup reaffirmed a “sell” rating and issued a $5.50 target price (up from $5.00) on shares of UP Fintech in a research report on Tuesday, October 22nd. Deutsche Bank Aktiengesellschaft initiated coverage on shares of UP Fintech in a report on Thursday, January 2nd. They issued a “buy” rating and a $9.40 target price for the company. Finally, China Renaissance raised UP Fintech from a “hold” rating to a “buy” rating and set a $7.58 target price on the stock in a report on Thursday, October 24th.

UP Fintech Trading Up 5.8 %

The company has a debt-to-equity ratio of 0.30, a current ratio of 1.11 and a quick ratio of 1.11. The stock’s 50-day simple moving average is $6.43 and its two-hundred day simple moving average is $5.57. The firm has a market capitalization of $1.28 billion, a P/E ratio of 34.55 and a beta of 0.86.

Hedge Funds Weigh In On UP Fintech

A number of hedge funds and other institutional investors have recently modified their holdings of TIGR. GAMMA Investing LLC increased its position in shares of UP Fintech by 53.6% during the 3rd quarter. GAMMA Investing LLC now owns 6,031 shares of the company’s stock valued at $32,000 after purchasing an additional 2,104 shares during the last quarter. Blue Trust Inc. lifted its position in shares of UP Fintech by 198.6% in the 3rd quarter. Blue Trust Inc. now owns 14,657 shares of the company’s stock worth $78,000 after purchasing an additional 9,748 shares during the period. Asset Management One Co. Ltd. increased its holdings in shares of UP Fintech by 38.5% in the 3rd quarter. Asset Management One Co. Ltd. now owns 15,733 shares of the company’s stock valued at $84,000 after acquiring an additional 4,377 shares during the period. Diversify Advisory Services LLC bought a new position in UP Fintech in the fourth quarter worth about $119,000. Finally, Shilanski & Associates Inc. bought a new position in shares of UP Fintech during the 4th quarter worth approximately $120,000. Institutional investors own 9.03% of the company’s stock.

About UP Fintech

UP Fintech Holding Limited provides online brokerage services focusing on Chinese investors. The company has developed a brokerage platform, which allows investor to trade stocks, options, warrants, and other financial instruments that can be accessed through its APP and website. It offers brokerage and value-added services, including investor education, community engagement, and IR platform services.